What are your “5 things I wish someone told me when I first started” and why.
When I was in my early 20’s I had a jewelry wholesale business. I was flying and selling more than even I could believe. My Father, who never got involved but who I used to seek advice, one day said to me that I was overtrading?
I listened to what he had said and thought to myself, how can I ever be selling too much? Surely, this is what business is all about, making sales and building your business.
Not too long after that, it all made sense.
When you are selling, it means that you are also buying in order to make the sales. If the flow of funds from your debtors and your outflow to your creditors are not in Sync, this will lead to cash flow issues. In my case the debtors were not paying as fast as I was buying. And I soon realized the impact of overtrading in my business.
What’s your backstory?
I spent 2 years after school in the South African Army, I learned to parachute, it was a great experience. I studied the Woolworths management course after completing the army. I dabbled in many businesses, had a clothing shop, jewelry store and by 24 opened my jewelry wholesale business.
I completed a course in grading cut diamonds and eventually moved on to importing items from the East which has taken me down the road to where I am today. 3 years ago, I met the Inventors of Butterfly cup and have been very involved in launching this worldwide.
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Published by john paret